Begin with the End in Mind
What is your business worth today, and how does that align with your objectives? Knowing what you have to do to get from point A to point B is step one of exit planning. To maximize value, you need to look at your business the way a buyer would, making it as attractive as possible.
Another facet of exit planning involves working with a wealth planner. It’s important for you to stay engaged with a trusted wealth advisor to determine: whether the after-tax proceeds from the sale will fund your lifestyle moving forward; how you will minimize taxes; and if you need to create any financial structures before the sale, such as trusts or charitable plans.
It is critical to have the right team of skilled advisors, who are experienced in business sale transactions–a lawyer, accountant, wealth planner–and a business intermediary, who will help you plan your exit and quarterback the entire process.
The components of exit planning are integrated and happen concurrently. Our Managing Director, Jim Cumbee brings decades of experience as a lawyer, MBA and M&A professional. He can quarterback your team so you can achieve a successful exit.
